Rubicon Research Ltd., a pharmaceutical formulations company, has announced its Initial Public Offering (IPO) with a price band of Rs 461-485 per share. The Rs 1,377.5 crore public offering is set to open on October 9 and close on October 13, 2023.

IPO Details

Key Dates

Offer Structure

The IPO comprises:

• A fresh issue of shares worth Rs 500 crore
• An offer-for-sale (OFS) of Rs 877.5 crore by the promoter, General Atlantic Singapore RR Pte Ltd

Use of Proceeds

Rubicon Research plans to utilize the proceeds from the fresh issue as follows:

• Rs 310 crore for debt repayment
• Funding acquisitions and strategic initiatives
• General corporate purposes

Company Profile

Rubicon Research is a pharmaceutical formulations company with a focus on research and development (R&D) and innovation. The company operates:

• Two US FDA-inspected R&D facilities
• Two manufacturing plants in India

This IPO presents an opportunity for investors interested in the pharmaceutical sector, particularly in companies with a strong R&D focus. Potential investors should carefully review the company's prospectus and consider their financial goals before making any investment decisions.

Rubicon Research, a Maharashtra-based pharmaceutical formulations company, is set to enter the public market with a substantial Initial Public Offering (IPO) worth Rs 1,377.5 crore. The IPO, scheduled to open from October 9 to October 13, marks a significant milestone for the company backed by global investment firm General Atlantic.

IPO Structure and Offering Details

The IPO comprises two components:

• Fresh issue of shares amounting to Rs 500.00 crore
• An offer for sale of up to Rs 877.50 crore by promoter General Atlantic Singapore

Use of Proceeds

Rubicon Research has outlined clear objectives for the funds raised through this IPO:

• Rs 310.00 crore will be allocated towards debt reduction
• The remaining funds will support future acquisitions and general corporate purposes

It's worth noting that as of June 30, the company's total outstanding borrowing stood at Rs 496.00 crore.

Company Profile and Specialization

Rubicon Research has established itself as a specialist in pharmaceutical formulations, particularly for regulated markets. The company's impressive portfolio includes:

• 72 active Abbreviated New Drug Applications (ANDAs)
• 9 New Drug Applications (NDAs) approved by the U.S. Food and Drug Administration (USFDA)
• 17 products awaiting approval
• 63 products currently in development

This robust pipeline underscores Rubicon's strong position in the pharmaceutical formulations sector.

IPO Timeline and Additional Details

• Anchor round opening: October 8
• IPO subscription period: October 9-13
• Price band and lot size: To be announced at a later date

Investors and market watchers will be keenly awaiting further details about the price band and lot size, which are crucial factors in determining the attractiveness of the IPO.

Conclusion

Rubicon Research's IPO represents a significant event in the Indian pharmaceutical sector. With its strong backing from General Atlantic, a robust product pipeline, and clear plans for the use of proceeds, the company is positioning itself for growth in the competitive pharmaceutical formulations market. As the IPO dates approach, all eyes will be on the market's response to this offering from a key player in the regulated pharmaceutical markets.